JS Group

JS Group
Private
Industry Financial services
Founded 1971 (1971)
Headquarters 7F, The Forum, Khayaban-e-Jami, Karachi, Pakistan
Area served
 Pakistan
Services Finance and Insurance
Asset Management
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Private Equity
Number of employees
 23,000
Website www.js.com

JS Group is a financial services group in Pakistan, founded in 1971 by Jahangir Siddiqui.[1] The company controls and operates financial services companies in Pakistan. Financial services of JS Group include asset management, commercial banking, company research, insurance, investment banking, Islamic banking, micro finance, and stock brokerage. JS Group also has investments throughout Pakistan's economy, in the industrial sector, technology and media sectors, commercial real estate, energy and natural resources. JS Group has its headquarters in Karachi.[2]

JS Group has six businesses: JS Industrial, JS Infocom, JS Property, JS Resources, JS Transportation and JS Financial.[3]

JS Financial

JS provides financial services in commercial banking, asset management, private equity, investment banking, securities brokerage, company research, insurance, Islamic banking and finance, and micro finance. Companies operated by JS financial are:

  • Jahangir Siddiqui & Co. Ltd. (JS&Co)
  • JS Global Capital Limited (JSGCL)
  • JS Bank Limited (JSBL)
  • JS Investments Limited
  • EFU Insurance Group
  • Bank Islami

Jahangir Siddiqui & Co. Ltd

Jahangir Siddiqui & Co. Ltd. was incorporated (under Companies Ordinance 1984) in 1991 as public unquoted company.[4][5] The Company is presently listed on & is also a corporate member of Pakistan Stock Exchange (PSX).

JS Group's principal activities are trading of securities, maintaining strategic investments, consultancy services, underwriting, etc. The company has a long term rating of AA (Double A) and short term rating of A1+ (A one plus) assigned to it by Pakistan Credit Rating Agency.[6][7] Jahangir Siddiqui & Co. Ltd. and its subsidiary companies are involved in trading of securities, maintaining strategic investments, investment advisory, brokerage, asset management, agency telecommunication, commercial banking, power generation and other businesses.[8] Jahangir Siddiqui & Co posted a profit (after tax) of Rs 1,060 million in 2014.[9]

JS Global Capital Limited

JS Global Capital Limited was incorporated as a private limited company on 28 June 2000. JS Global Capital Limited is arguably the largest Broking and Investment Banking firm in Pakistan with a continued leadership position in the domestic capital markets. JS Global is listed at the domestic stock exchanges and JS Bank Limited and Global Investment House are the sponsor shareholders.JS Global Capital Limited is a Trading Right Entitlement Certificate Holder of Pakistan Stock Exchange Limited and member of Pakistan Mercantile Exchange Limited. The principal activities of the Company are share brokerage, money market, forex and commodity brokerage, advisory and consultancy services.[10]

JS Bank Limited

JS Bank is a majority-owned subsidiary of Jahangir Siddiqui & Co. Ltd. and currently operates 323 branches in 161 cities, with a total asset base of Rs 112 billion in 2014.[9] It has a primary dealer license for government securities from the State Bank of Pakistan.[11] According to a press release, the long-term entity rating of JS Bank Limited (JSBL) has been promoted to ‘AA-’ (Double A Minus) by Pakistan Credit Rating Agency (PACRA).[12] JS Bank was formed after the merger and amalgamation of Jahangir Siddiqui Investment Bank Limited and commercial banking operations of American Express Bank Ltd Pakistan. JS Bank Limited commenced operations in Pakistan as a fully scheduled bank on 30 December 2006.[13] JS Bank’s consolidated profits (after tax) for the year 2014 were Rs 1,060 million.[9]

Bank Islami

Dubai Bank was one of the founding shareholders of Bank Islami which invested 18.75% in the total capital.[14][15] Bank Islami is the joint venture project of three groups namely Jahangir Siddiqui & Co. Pakistan, Randeree family, & Dubai Bank.[16] The State Bank of Pakistan issued a No Objection Certificate on 19 August 2004 and Bank Islami Pakistan Limited, the second full-fledge Islamic Commercial Bank in Pakistan, was incorporated on 18 October 2004 in Pakistan.[17]

JS Investments Limited

Founded in 1995, JS Investments Limited is a private sector asset management company in Pakistan. The company is listed on the Pakistan Stock Exchange (PSX) and is a part of JS Group.[18]

EFU Life

JS Group has holdings in EFU Life. EFU Life was incorporated in Pakistan on 9 August 1992 as a public limited company under the Companies Ordinance, 1984 and started its operation from 8 November 1992. The shares of the Company are quoted on Pakistan Stock Exchange.The Company is engaged in life insurance business including ordinary life business, pension fund business and accident and health business.[19]

JS Industrial

  • Al Abbas Industries – Steel, Chemicals and Fiber Board
  • Al Abbas Sugar Mills – Sugar and Ethanol
  • Azgard 9 - Composite denim
  • Pakistan International Container Terminals (PICT) - Port Operations and Container Handling
  • Pak American Fertilizer Limited (PAFL) - Fertilizer[20]

Azgard 9

Azgard Nine Limited is incorporated in Pakistan as a Public Limited Company and is listed on Pakistan Stock Exchange Limited. The Company is a composite spinning, weaving, dyeing and stitching unit engaged in the manufacture and sale of yarn, denim and denim products.[21]

Pakistan International Container Terminals

Pakistan International Bulk Terminal Limited was incorporated under the Companies Ordinance, 1984 on 22 March 2010 as a private limited company. Subsequently, on 11 July 2011, the Company was converted as an unquoted public company limited by shares under the Companies Ordinance, 1984.[21]

JS Property

JS Property is a holding company of JS Group. It invests in real estate projects.[22]

JS Transportation

JS Transportation focused on the aviation business within Pakistan the division of the group was set up in 2005. The company offered charter services in Pakistan under the name JS Air, using a small fleet of propeller driven Beech aircraft with a maximum capacity of about 20 passengers.

Awards and achievements

JS Group sponsors first Karachi Biennale 2017

JS Group sponsors first Karachi Biennale 2017 to connect art, the city of Karachi and its people.[23]

Dialogue on UAE’s Diaspora Engagement towards Impact Investment in Pakistan

JS Group and People Organization hosted an event in honor of Mr. John Groarke – Mission Director USAID Pakistan at the Capital club situated in Dubai International Financial center in Dubai on Thursday, 27 October 2016.[24]

Acquisition of HSBC Pakistan

In 2012, JS Bank was likely to buy out HSBC Bank Middle East Ltd’s Pakistan branches and their assets. According to NASDAQ and The Wall Street Journal, HSBC Bank Middle East Ltd. had entered into an agreement to sell its banking business in Pakistan to JS Bank Ltd[25][26] However, in 2013, the JS Bank and HSBC Pakistan agreement fell through.[27]

JS Bank declared number 1 primary dealer of government securities

The State Bank of Pakistan recently, 2nd year in a row has declared JS Bank as the number 1 primary dealer of government securities for the year 2011–12.[28] In 2011, JS Bank was ranked by State Bank of Pakistan for being the No 1 primary dealer.[29] In 2011, JS Bank organised the first ever day and night women T-20 tournament in Pakistan.[30]

News

Syed Muhammad Ali joins JS Group

JS Group has appointed Syed Muhammad Ali as its senior adviser & head of the energy vertical; with effect from 1 June 2017. Ali joins JS Group from Engro where over the last 16 years he has held several key positions within the Corporation.[31]

International operations

The group has offices throughout the major cities in Pakistan and manages its international operations from its London and Dubai offices. The group comprises businesses with over 23000 employees and profit after tax of $510 million in 2007.[3]

Partnerships

JS Group has formed partnerships with international organisations and brands to develop new businesses in Pakistan. Examples of JS Group partnerships in Pakistan include:

See also

References

  1. ↑ Alam, Kazim (15 January 2012). "JS Group: the empire built by selling the family car". The Express Tribune. Retrieved 14 July 2018.
  2. ↑ "JS Group : JS Group: Pakistan Financial Services". Js.com. Retrieved 14 July 2018.
  3. 1 2 JS Group: About JS Group. Js.com. Retrieved 14 July 2018.
  4. ↑ Non-Banking Finance Companies | Accountancy Education Article. Accountancy.com.pk. Retrieved 14 July 2018.
  5. ↑ Jahangir Siddique & Company Limited – Annual Reports. PakSearch.com.
  6. ↑ The Pakistan Credit Rating Agency Limited. PACRA.
  7. ↑ http://www.js.com/uploads/JSCLHalfYearlyReportDecember312011.pdf
  8. ↑ http://www.js.com/uploads/JSCL1stQtrReport30Sep2011.pdf
  9. 1 2 3 Annual Report 2014 Retrieved 14 July 2018.
  10. ↑ Brokerage JS Global Capital Limited. Retrieved 14 July 2018.
  11. ↑ "JS Bank declared No 1 PDs". The Nation. 6 July 2012. Retrieved 14 July 2018.
  12. ↑ "Pacra upgrades JS Bank ratings". The Nation. 30 June 2012. Retrieved 14 July 2018.
  13. ↑ JS Bank Limited | Pakistan | Company Profile. Securities.com 30 December 2006. Retrieved 14 July 2018.
  14. ↑ Brand Management (BRAND AUDIT) BankIslami. Scribd.com. Retrieved 14 July 2018.
  15. ↑ Corporation, Nexus. (6 February 2012) JS Group: Financial Business Unit. Jahangir-siddiquigroup.blogspot.com. Retrieved 14 July 2018.
  16. ↑ About Us. BankIslami. Retrieved 13 July 2018.
  17. ↑ Bank Islami Pakistan Limited | Pakistan | Company Profile. Securities.com. Retrieved 14 July 2018.
  18. ↑ "JS Investments announces Total Payout of over Rs. 1.2 billion in Open End Funds for FY11" (PDF). JSIL. Retrieved 14 July 2018.
  19. ↑ Insurance Retrieved 14 July 2018.
  20. ↑ http://www.js.com/pakistan-industry.asp
  21. 1 2 Other Investments Retrieved 14 July 2018.
  22. ↑ "JS Group : Real Estate Industry in Pakistan – JS Property – JS Group". Js.com. Archived from the original on 17 December 2011. Retrieved 2 December 2011.
  23. ↑ "JS Group sponsors Karachi Biennale 2017". The Express Tribune. 15 March 2017. Retrieved 14 July 2018.
  24. ↑ "Dialogue on UAE's Diaspora Engagement towards Impact Investment in Pakistan – October 28, 2016". Retrieved 14 July 2018.
  25. ↑ NASDAQ http://www.nasdaq.com/article/hsbc-to-sell-its-business-in-pakistan-20120910-00884
  26. ↑ "HSBC Bank Middle East to Sell Banking Business In Pakistan To JS Bank". The Wall Street Journal. 10 September 2012. Retrieved 14 July 2018.
  27. ↑ "JS Bank-HSBC Pakistan deal falls through". The News International. 24 October 2013. Retrieved 14 July 2018.
  28. ↑ "ePaper". The Nation. 19 July 2012. p. 17.
  29. ↑ "STATE BANK APPOINTS ELEVEN PRIMARY DEALERS FOR FY 2011-12" (PDF) (Press release). 28 June 2011. Retrieved 14 July 2018.
  30. ↑ "JS Banks womens T20 tournament". The Nation. 29 June 2011. Retrieved 14 July 2018.
  31. ↑ "Syed Muhammad Ali joins JS Group". Flare. 20 July 2017. Retrieved 14 July 2018.
  32. ↑ "JS Group : Partnerships". Js.com. Archived from the original on 15 October 2011. Retrieved 2 December 2011.
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